The latest ANZ Business Outlook Survey for March revealed a notable decline in business confidence, with recorded levels dropping by 12 points to +23. Similarly, both the expected own activity measure and past activity figures saw decreases, indicating a general sense of unease among businesses. ANZ Chief Economist Sharon Zollner…

As climate change becomes an increasingly pressing issue, governments around the world are beginning to take action to protect their citizens and their economies. According to a New Zealand government minister, increasing individual wealth could be key to helping individuals and the economy absorb the impact. The Minister of Commerce…

The recent decision by the RBNZ to maintain the Official Cash Rate at 5.5 per cent for the sixth consecutive meeting has dashed expectations for immediate relief, echoing forecasts made by economists. As such, it will be some time before we can return to pre-pandemic levels. The RBNZ’s stance reflects…

As 2024 unfolds, Kiwis find themselves bracing for further economic turbulence in the short term, with the cost-of-living crisis continuing to exert pressure on households. However, amidst these immediate challenges, there are glimmers of hope on the horizon, particularly for mortgage holders who may see relief in the medium to…

Homeowners in New Zealand are turning to short-term fixed-rate mortgages as recovery is on the horizon. This trend signals a departure from the traditional long-term fixed-rate loans that have long dominated the mortgage market. With the Reserve Bank of New Zealand’s recent decision to maintain historically low interest rates, many…

New Zealand’s government has recently declared a 2 per cent increase in the minimum wage, equating to a 45-cent hourly raise, effective April 1. This adjustment will elevate the minimum wage to $23.15, up from the previous $22.70, marking the slowest growth rate in a decade. Despite this raise, concerns…

Recent data from Statistics NZ suggests a notable shift in the food price landscape. While the 4.8 per cent inflation rate remains outside the target range of 1 per cent to 3 per cent, it still marks a significant improvement from the peak level of 12.5 per cent earlier in…

Changes in home loan interest rates continue to reshape the financial landscapes of households across the nation. According to ASB economists, a staggering 90 per cent of the strain stemming from these rate hikes has been borne by households, revealing a significant economic challenge on the horizon. ASB’s senior economist,…

According to a report released by ASB Bank, New Zealand households are likely to experience another difficult year financially. Costs are forecast to rise by an average of $70/week, as high interest rates are expected to continue for well into next year at least. According to Mark Smith, ASB Bank’s…

According to a CoreLogic report released on Thursday, the share of first-time home buyers has risen to a record high. This high of 27 per cent might be encouraging for other potential first-time buyers, but any cause for optimism is likely to be cancelled out by future house price rises…